In the AD-AS diagram below, there has been a ____________ SRAS shock, which has led to the unemployment rate (U) to be ______________ the natural rate of unemployment (U*). Figure A negative; less than positive; greater than positive; less than negative; greater than negative; equal to

Natural rate of unemployment is equal to:Group of answer choicesFrictional unemployment plus structural unemploymentFrictional unemployment plus cyclical unemploymentStructural unemployment plus cyclical unemploymentNone of the above

The natural rate of unemployment can be reduced to zero percent.Group of answer choicesTrueFalse

2  How is an immediate effect of an increase in unemployment illustrated on a production possibility curve diagram?1 pointA a movement of the production point closer to the curveB a movement of the production point further inside the curveC a shift of the production possibility curve inwardsD a shift of the production possibility curve outwards

In the AS-AD model presented in lectures, the money wage rate is _________ along the Short-Run Aggregate Supply (SAS) curve and a change in the money wage rate causes a __________ of the SAS curve

The unemployment rate is defined as